VinChain initial coin offering (ICO)

Decentralized vehicle history

VINchain is creating a worldwide blockchain database of used vehicle information that is 100% transparent, reliable, and accessible by everyone. The VINchain project unites all data providers and gives the user a complete, uninterrupted vehicle record; all without the disadvantages of a centralized database. Consumers can also significantly increase the value of their vehicles at the time of the sale by contributing to the repository of data on the blockchain with help of vehicle tracking devices. VINchain is a decentralized network that allows you to store VIN data on the blockchain, which guarantees complete data invariability. You can pay for requests on the blockchain with VINchain tokens, afterwhich the tokens will be distributed between information providers depending on the value of the provided information to the community.
We also have longstanding functional and profitable businesses that currently generates profit. EpicVin.com became one of our partners

About VinChain ICO

VINchain is creating a worldwide blockchain database of used vehicle information that is 100% transparent, reliable, and accessible by everyone. The VINchain project unites all data providers and gives the user a complete, uninterrupted vehicle record; all without the disadvantages of a centralized database. Consumers can also significantly increase the value of their vehicles at the time of the sale by contributing to the repository of data on the blockchain with help of vehicle tracking devices. VINchain is a decentralized network that allows you to store VIN data on the blockchain, which guarantees complete data invariability. You can pay for requests on the blockchain with VINchain tokens, afterwhich the tokens will be distributed between information providers depending on the value of the provided information to the community.Why is this project important?

No one will be able to forge information

With accurate vehicle information the roads will be safer all over the world

It will create a trust-based community for dealers, united by the idea to make the market transparent to customers

We have longstanding functional and profitable businesses that currently generates profit, EpicVin became one of our partners and by the time we go live they will completely integrate with us. So in essence we are not just launching an MVP, but a functional, tested, and already proven to work business.
We are also partnered with many other companies in this space, and by the time our first solution comes to the market we will be able to offer a massive amount of value. Some of these companies include AutoInspect (a vehicle inspection company), VinInspect & VinGurus (vehicle history reports), and ABetterBid (Used and salvage vehicle broker). This is not counting the many companies that we will partner with, as we progress towards our ICO.
Through our partnerships we already do business with the largest clean and salvage title vehicle auction in the united states, Copart.com (NASDAQ - CPRT). EpicVin is their official Vehicle history report provider.
We have an agreement with AutoInspect that by the launch of VINchain they will contribute their repository of more than 300 million vehicles into our database. We have a massive amount of industry experience not only form our partnerships, but also from our team members and advisors. Just one of our team mates, Jurgis, has a total annual turnover of more than half a billion dollars form all of his auto companies. That speaks a great deal about the massive experience that we have on our side.
Compared to other ICO projects that are coming out on the market, no one comes close to the amount of experience that we have. Our teams tokens are vested for 2 years. We're very highly dedicated to our mission.
We will have our blockchain solution by March and we are planning on generating revenue by the end of the ICO. By the launch of our solution, our partners will accept our tokens as a form of payment. Each report through our partners will cost 25 tokens.We are confident that our solution will triumph over others on the market.
Distribution

600,000,000 => are distributed among ICO members.

250,000,000 => are reserved among founders, consultants and other members of the team with a sale restriction of 2 years.

87,500,000 => are reserved with a sale restriction for 2 years. Will be used as a reward mechanism between first participants of the system, application, and discount programs. Smart contract will ensure the ban on sale of a turnover.

50,000,000 => are reserved for the advisory board. If all tokens will not be distributed it will be burned.

12,500,000 => are reserved for early token purchasers with a sale restriction of 3 months after the ICO ends.

"Each report through our partners will cost 25 tokens, which is equivalent to $1.25, as compared to the $8.99 that it currently costs (on EpicVin)" - this is at 0.05c per token if ETH is $1k. Plus there is the $3 transaction fee mentioned. If ETH rises to $7200 (or less with transaction fees) does it mean that this competitive edge doesn't hold?

Will these tokens be listed on any exchanges (not mentioned in the whitepaper) and if there is 10x growth in token price, is this platform already more expensive than competitors?

There seems to be a mashup of too many ideas and I can't see how it will be executed. Remote controlling engine start via an app, nearest station locator, insurance claim assistance ...
It needs a huge ecosystem of vendors and consumers to subscribe to this plan. Apart from the auctioneering businesses, who else has bought in to the idea?
I also don't understand what processes are in place to verify that data input into the system is correct, not falsified. What method of consensus? I see SSL is used to identify the user, but who checks that the info the user provides on the vehicle is correct?

Transaction fees can fluctuate, and most likely will increase over time.

No clarity on what the off chain technical architecture will look like. Where will the data on ipfs reside?

Also, too much reliance is pushed to people to contribute data. Gamification if employed only works to a limited extent. Will consumers really contribute on the scale you are looking at?

Updated upwards based on further feedback from the team.

The data should be available from OBDII devices that should be standard in many cars built in the target market.

Report prices will be regulated (by token or fiat).

Tokens will be listed on an exchange, and they've clarified parts of the technical architecture.

The scope is ambitious and a lot of parties need to come together, lots of software is required, and a lot is needed for systems integration and user change management.

The team is ready to answer any questions you arise, without any hidden words.
They are ready to make this project a working platform. I can't agree with all the members of advisory boards but overall it looks solid.

The vision it is great and solves a great lot of issues in real-life situations on second-hand car markets.

The product already has an MVP and ready to be delivered as promised by the looks of the whitepaper and the project itself togheter with their competition, they have a good margin of profit and still can go a bit over-priced without affecting their competing edge.

Good team and excellent idea! Against human evil side, fraud, is one of the Blockchain powerful weapon! The key to success is buildup reputation of your platform. With the coming regulations for vehicle in Europe which you mention in WP, will speed up your success from my point of view. Good luck!

There is a real problem, it needs fixing . Team have industry knowledge and connections to get POC testing done and execution. Adoption will not be easy but of they get in bed with the right partners could be very interesting

As mentioned by others, the success is really dependent on mass adoption of this technology by the secondary market, or used car industry. With the experts on board, it seems car auctions are the initial focus. Both customers and dealers would need to adopt this tech for it really take off. New car manufacturers could use this technology as well, but I feel auto makers may collaborate and create their own blockchain for vehicle data. I see this as a moderate to high risk project. You will need great partnerships and marketers to really make this succeed. Good luck and wish you best on this project! I can see the vision here and I can see how the technology could really disrupt auto fraud.

I don't understand why so-called blockchain experts think that putting vin numbers on a Blockchain is stupid. Supply chain, provenance etc. Putting real world assets on the Blockchain is one of the most common and sensible uses of the technology. Good team. Good idea. Decent whitepaper. Some dumb reviewers.

I believe if VinChain can pull off what they have set on their road map then this could definitely be a industry disrupter. I could see this project gaining mass adoption but not anytime soon, in my opinion it would take atleast 2-5 years. If anyone was to contribute to this project with their funds, take note this is not going to be a quick short term flip. Always do your own research first.

Team is pretty good, many members from different countries and also many advisors that can help the team to overcome on difficulties the team may face during the developing. Key roles of the team have also applied and passed the KYC test on Ico bench. The product would like to solve a real issue and the blockchain can help in this sense. Good luck to the team and investors.

First, it seemed to me just another simple idea, but after some study, I found this is definitely not simple. Great team and fully working App with tons of functions. And the the business model is also great. VinChain has great potential! Good luck!

The main problem of this market is not to store reliable information, but to collect it reliably with the help of trusted devices or trusted people. And blockchain in this, unfortunately, can not help in any way.

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

Head of Business Innovation at ATU, Germany, German’s leading automotive service provider with over $1 billion turnover

David Carp

Dr Paolo Tasca

Founder and Executive Director of the Centre for Blockchain Technologies. Digital Economist specialising in P2P financial systems. Advisor on blockchain in EU Parliament and the United Nations, founder and Executive Director of the Centre for Blockchain T

Advisors

Donald G. Stephenson

President of Alleghany Management Inc. Had been working as Senior Vice President of Volkswagen of America where he held P&L responsibility for parts and accessory sales and marketing, customer satisfaction and field force management

Advisors

Mark Taylor

Head of Business Development at PureCars. Responsible for acquiring and managing strategic partnerships with the Automotive Manufacturers (OEMs)

Advisors

Ed Cicale

VP AutoNation e-Commerce and Customer Communications. Ed has over 30 years’ experience in marketing and advertising with over 20 years in Automotive marketing

Advisors

Richard Patterson

Owner of Wingfield Consulting. Serial entrepreneur & innovator with over 35 years experience.